In the past year, the company has continued its operations seamlessly under a strategic business plan aimed at developing condominium projects located near public transportation, striving to be the “urban lifestyle solution”

In 2023, tourists and foreign investors have begun to return to Thailand, initiating tourism and business activities. Although the number of international visitors is not as substantial as it was before the global economic slowdown caused by the COVID-19 pandemic, there is a noticeable influx. This economic slowdown resulted from various global factors such as inflation, interest rate adjustments, geopolitical conflicts like the Russia-Ukraine war, and political disputes between Israel and Hamas. Despite these challenges, the gradual recovery is evident as foreigners show interest in visiting and engaging in business activities in Thailand.

In the past year, the company has continued its operations seamlessly under a strategic business plan aimed at developing condominium projects located near public transportation, striving to be the “urban lifestyle solution” in residential development to address urban dwellers’ challenges. The goal is to elevate the quality of urban life while achieving set targets. This includes a remarkable 11% growth in pre-sales, totaling 19.535 billion Baht, a 10% increase in transfers, totaling 13.186 billion Baht, and an outstanding 102% growth in international market sales, totaling 6.989 billion Baht. The company is committed to providing the best living experience to customers, aligning with product standards and post-sales services to meet urban dwellers’ satisfaction in lifestyle and living standards under the “ANANDA SURE” standard.

On July 27, 2023, the Supreme Administrative Court issued a verdict to revoke the permit for the notification of intent to construct, modify, demolish, move, or alter the use of the building for Ananda MF Asia Asoke Limited, a joint venture between Ananda Development and Mitsui Fudosan Asia (Thailand) Co., Ltd., the developer of the Ashton Asoke project. The company acknowledged and respected the court’s decision and made efforts to find solutions to mitigate the impact on all stakeholders, including customers, employees, shareholders, and other groups.

In November 2023, the company repurchased shares from Mitsui Fudosan Asia (Thailand) Co., Ltd., enhancing its flexibility in resolving the aforementioned issues with relevant government agencies.

On behalf of the company, I would like to express our gratitude to our customers, investors, shareholders, as well as bondholders, and our partners, including various financial institutions, for their trust and confidence in the management of our company. Additionally, I extend my thanks to the employees and management team of the company who have worked diligently with full dedication, providing support, knowledge, skills, professionalism, and creativity. It is through the collective efforts of everyone that we have developed real estate projects that cater to the urban lifestyle and known for developing condominiums located near public transportation, as our current projects.

Chanond Ruangkritya
Chief Executive Officer
Ananda Development Public Company Limited